The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-05-21

NEW YORK, May 20-R G. Dun & Co., in
their weekly trade review, cay: The most i'm
portant news of the week. if confirmed, is that
the Interstate-conmerce Commission will re-
woke all temporary suspensions of short haul
clause, terminating them July l. The revolu-
ton in business must, therefore progress until
its full effects have been realized Some of
them are seen in the contract taken by the
Canadian Pacific to move eastward the wool of
California and 100000 600 pounds of sugar, and
in a marked revival of shipments around the
Horn. Others appear IN the decline of trade at
larger centers of distribution and manufacture,
and increase of distribution at smaller towns
with ups pringing of new manufacturing works
at many localities. For twenty-five years the
railroads have been aupihilating barriers of dis
lance. The new law tends to restore the old
barriers and to put sections, cities and towns
further away from each other. Closely con-
nected are the numerous labor troubles. most OF
which grow out OF narrowed fields for distribu-
ton of products
Local reports still generally encourag ing,
with no instance of unusual delay in collections
Where business is deemed dull, it is, in every
case, pronounced larger than at the same season
last year. A remarkable feature is that money
is reported in abundant supply everywhere ex-
cept at Chicago and New York. while the de-
mand is said to be more limited at Detroit but
very good at Cleveland. Where the highest
rates are reported, as at Omaha-S to 10 per
cent.-capitalists offer banks large sums at 6 Der
cent, which was refused. Real estate specula-
ZION Is maintained there, ana at OLDer points,, Dy
rapid investments of local and Eastern capital.
AT Nashville the ruling excitement is the COM
ing sale of lots in the town, West Nash
vile, where new iron works to be located.
The increased demand for money at Chicago
springs from wheat speculation, and produce
operators are busily seeking assurances of more
aid from banks, while New York exchange falls
to 40 cents discount.
Wheat cents last Saturday but weak
ened again. and after week of uncertainty,
with sales of 80 600 900 bushels here, closes less
han taho asst md
weaker; oil over cent lower; pork products dull,
and sugar unchanged In coffee there has been
a wild advance with sales of 952. 200 bags here,
but the rise of ! cent is wholly speculative.
Stock speculation has been active with some ad-
vance, but the American public is not absorbing
securities. The enormous offerings on the Paris
loan and the low rate for money at London
count for the temporary use of large
amounts here. The weak point is
produce exports for the past three weeks,
against an increase of per cent. IN imports. In
dry goods strong improvement in cottons
causes advance In prices OF many brown and
bleached goods and drills. with standard browns
at Tic but the exceeding dizziness in wooleus
continues unrelieved. Recent heavy failures of
German houses in the American trade disclose
overproducton and Improbable competition
that side.
The business failures during the last seven
days nun Der. for the United States, 152; for
the week previous to the last, and l67 for the
corresponding week last year Failures IN the
South are very light. and in the other sections
of the country are below the average. perhaps,
except in the Pacific States and Canada, where
casualties are the increase.